"Hello, Mr. Eisner, Mr. Murphy, I'm glad to be on the Good Morning Ameriga show..."

In a studio in Manhattan, New York, hosts Charlie Gibson and Joanne Landon greeted TV audiences as usual. The difference is that they had a new boss yesterday.

Moreover, the current and future new and old bosses appeared on ABC's morning ace program at the same time to talk about some topics about this merger and acquisition case.

"I want to ask a question they care about on behalf of the audience of our program..." After talking about some polite questions, the veteran host and reporter Charlie Gibson was a little bit off the theme of the show that made the two big men appear today, and began to ask.

Some more controversial issues arise.

"Will Disney acquire ABC affect the quality of news reports?"

As soon as this question was asked, not only did the two bosses look at each other, but also all the technicians on the scene and the directors in the backstage widen their eyes. Is Charlie Gibson so unwilling to give face to the new boss Eisner? He just scolded the other party in this way.

Will the acquisition interfere with the freedom of the press of your own program?

In the tradition of Ameriga, media reporters always regard themselves as the uncrowned king and as the most powerful channel for the people to supervise the government in addition to the three-power system, and are called the fourth-right media's power to report and supervise freely.

In order to ensure that this power was effectively implemented, in 1934, Congress passed the Communications Act of 1934, which oversees the television media during the period of Roosevelt.

There are three main contents of this communication law, the first is the Finance and Syndicate Rules. This rule limits the financial gains of the three wireless TV networks, CBS, ABC and NBC, which have the programs broadcast during their prime time.

Moreover, in the subsequent national syndicate broadcast network, TVB was unable to obtain further advertising revenue through replays.

The purpose of this regulation is to prevent the three major TV stations from making a fortune, thereby monopolizing the two links of program production and broadcasting. Otherwise, the three major TV stations will monopolize the TV programs that people across the country can see, and there is still much power to supervise media

It's hard to say.

The second regulation is the national radio and television ownership limit. Any television media cannot control more than 35% of the national audience. Similarly, this is also a pre-existing antitrust measure.

Members on Capitol Hill believe that the key to media oversight lies in competition. If a media becomes the main television network in the country, then these capitalists are likely to use this monopoly to spread remarks that are beneficial to them, or even lie.

To achieve this goal.

The third provision is to restrict cross-media ownership companies, broadcasters, telecommunications companies and content production companies that cannot cross-hold shares exceed a certain scale. Similarly, this is also a way to prevent monopoly from bringing excess profits and make TV companies a

The giant thus weakens media supervision.

Disney's acquisition of ABC happened to avoid the regulation of this bill. Because the original Disney was a pure content production company, it was a vertical integration with radio and television networks such as ABC.

Disney's content plus ABC's distribution, although the amount of mergers and acquisitions has set a record in the media industry, the proportion of audiences occupied has not changed much from ABC before the merger, so it just meets the requirements of the bill.

But legislation always lags behind reality. Although this merger does not violate the terms of the bill, after big capital controls ABC, some reports on Good Morning America will be affected more than before.

For example, this morning, Charlie Gibson wanted to talk about international news. Last month, Chief William announced the establishment of diplomatic relations with Vietnam, and Congress is discussing approval in the past few days. This symbolizes this generation of people who have experienced the Vietnam War.

The end of an era.

Unexpectedly, I was suddenly asked by the TV station to change the topic temporarily. To be honest, Murphy is about to retire, while Eisner is famous for Hollywood greed. Such a change of bosses is really more important than a topic like the US-Vietnam relations.

Is it?

This question is very abrupt, and the future boss Eisner's face was visible to the naked eye. Moreover, this is a national live broadcast, and even Ronald, who is in Los Angeles, will see a replay in a few hours.

Eisner thought for a moment and decided not to retreat. Just as his tit-for-tat counterattack was about to be released, Murphy rushed ahead of him and replied to Gibson's question.

"What, Charlie, aren't you proud to be a member of Disney?"

Murphy also scolded Charlie Gibson several times in his heart. The ace host of this kind of TV station just had an illusion that ABC could not leave him. Anyway, this will soon be no longer the target of his headache...

"Ah, no, I just suddenly thought that my boss will be..." Gibson was about to point his finger at Eisner.

At the critical moment, it was his old partner, and host Joan Langdon kicked him hard under the table.

Charlie Gibson also felt his partner's resentment and immediately went back to make up for it, "From the future, my boss will be a mouse called Mickey..."

"Hahaha, why, don't you want to work for a boss named Mickey?" Eisner's reaction was quick, and he continued to talk about this humor.

"I must like it because my kids will be very happy." Female host Joanne Landon inserted it straight without waiting for Gibson's interface.

"Ha, you're right, I should be happy. Now the kids across the country will be happy. They have more opportunities to see Mickey Mouse."

"Tell me how you decided to merge?" Host Gibson finally led the topic to the right direction.

"That's a long story. In fact, Disney and ABC's origins began about 40 years ago, when Walt Disney dreamed of building a great theme park and needed to raise funds. He had mortgaged his house and put it on lifestyle.

Insurance.

This chapter is not finished yet, please click on the next page to continue reading the exciting content later! He tried NBC and CBS, but they both refused. However, ABC provided a loan guarantee of $500,000 and $4.5 million. Since then,

,These two companies maintain a good relationship.

ABC seized the opportunity to air the first three TV series produced by Disney. At that time, I also worked for ABC Network for 10 years, starting with children's programs, and eventually becoming the senior vice president in charge of prime time.

I talked about the merger ten years ago when I joined Disney. “It was discussed three years ago, two years ago and six months ago,” he said. “In the end we felt that now is the right time for both companies.”

...

After the live broadcast ended, Eisner was very proud. Now he is the one with the most powerful in Hollywood and TV industries.

"Didi..."

"Your phone number, Mr. Eisner." The driver reported to him that people kept calling when the live broadcast was just now, and now it's another one..."

"Hey?" Eisner picked up the phone and put down the partition.

"It's me, Katsenberg."

Eisner was very happy. Kasenberg, who had a deep conflict with him, also called to express his greetings. This was the first time the two of them communicated on the phone after he fired him.

"The cooperation agreement we signed with ABC remains unchanged, right?"

"Of course, this part is still under the responsibility of the original Bob (Eiger)....”

After saying that, Eisner hung up the phone. Now even Katzenberg is going to come over and beg for a plead, and it feels very good. Katzenberg is in charge of the Dream Factory, and he is planning to enter the TV series production recently. He just took charge of ABC.

Robert Eiger, who operates, set up a $200 million joint venture to produce TV series for ABC.

"Hello?"

Another call came, which was Orwitz's. After sending Eisner into the studio, he was not qualified to accompany him, so he could only pass the time in the ABC studio building. Who knew that after he came out, he had not been on the scene yet

Eisner drove away from Eisner's car and had to get into his own car and follow him.

"Michael, I just couldn't get through your phone... The territory of Ameriga's media industry has been completely repainted today..."

"Hahaha, of course, this will be our two in the future..."

Eisner thought Orwitz was a good auspicious word, and he was very happy.

"Michael, I just got the news that Westinghouse Electric is about to announce the acquisition of CBS...the price is close to $6 billion..."

"What, how did they bypass the Telecommunications Act?"

"This is exactly what I want to discuss with you..."

“Parking ahead…”

Eisner's good mood was also destroyed.

The agreement to acquire CBS was negotiated for a long time like Disney's acquisition of ABC. Their main obstacle was actually the issue of the Telecommunications Act of 1934.

Westinghouse Electric itself is the owner of many local wireless TV stations, and media assets account for a large proportion of its business. If they acquire CBS, it is a horizontal merger and acquisition, which violates the antitrust principle.

The conclusion of this agreement shows that they have made breakthroughs in legislation.

After the two got off the car, they found a place to watch TV news. Sure enough, the news that Westinghouse Electric announced the acquisition of CBS was broadcast.

The transaction price is US$5.4 billion, which is much smaller than Disney's acquisition of ABC, and it is also smaller than the original Wall Street estimates US$6 billion.

Just as the two continued to talk about how to deal with this new competitor, another piece of news followed.

Congress announced that it had passed a legislative motion to repeal the Telecommunications Act of 1934 and to remove regulation that has been targeting the television industry for the past sixty years.

Speaking of the reasons for the abolition, Congress gave it mainly because of the competition for cable TV. The emergence of cable news networks such as CNN has made the original market bigger. It restricts a company from breaking through 34% of the audience.

It becomes meaningless, as cable TV is quickly snatching viewers from traditional wireless stations.

If the wireless station continues to stick to the rules and prevent the wireless station from making full use of the program profit, then these unregulated cable stations will soon surpass and even acquire wireless stations.

Another deeper reason is that although the current Chief William is a donkey party, in terms of economic policy, it still continues the neoliberal direction of the previous two Chief William Party leaders.

Overall, it is to reduce supervision and strengthen free competition, which allows the strength of a large number of companies to grow rapidly, thus leading to rapid growth in fiscal revenue. In addition, William passed the "All-round Budget Adjustment Act" in his first year of office,

The exaggerated fiscal expenditure of the previous government has been restricted, and the fiscal deficit for the whole year has dropped to $200 billion compared to the $290 billion he took over.

To achieve this government goal of financial control, the most important thing is to collect taxes. In the first two years of this government, Ameriga's economy was very good, and the economic growth rate returned to around 4% from the recession of the old George period.

.

Moreover, the average profit level of S&P 500 companies grows about 10%-15% per year. New IT companies, such as Microsoft and IBM, are booming. In addition, the S&P index has also hit a new high this year.

In such a prosperous society, the original antitrust and donkey party propositions that supported trade unions gradually became out of place. William also took this opportunity to start cutting off the donkey party establishment party that started with Roosevelt Wine.

Some foundations to cultivate new donkey party forces that are only loyal to themselves...especially working in Silicon Valley businesses and voters who like Hollywood stars.

Orwitz and Eisner discussed for a long time, but they didn't expect that the competitive situation in the media industry would change so much.

Eisner realized that ABC's business in the future will not be as flat as he imagined. Instead, it will have new hidden worries in the face of intensified competition.

This chapter is not finished yet, please click on the next page to continue reading the exciting content behind! "Michael..." he said to Orwitz, "It seems that your work content needs to be corrected. I now think that the ABC part of the business is us

A bigger challenge is better to let ABC and Disney become independent entities, so that we each manage our business and you are responsible for ABC's business..."

"So? This is a very reasonable choice." Orwitz felt a little regretful. In the future, he could not use Disney's power to make those who offend him in Hollywood who had offended him obediently.

It doesn't matter, it's inevitable. I'm just waiting for a few more years. After Eisner retires, the entire group will still have to hand it over to me.

"We will be complete partners, like Goyzuta and Keo of Coca-Cola, or Daly and Semer of Warner..." Eisner continued to say to Orwitz, citing two uninterrupted cooperation

Examples of senior executives of large listed companies.

"Then will my look up?" Orwitz couldn't help but mutter. Did Eisner really adjust his job for business reasons, or was he afraid of himself? Did he lose Eisner's trust so quickly?

"I will also serve as a joint CEO for a while. As long as you make some achievements at ABC, I can only retain the chairman. You will be a full-time CEO." Eisner seemed to have not paid attention to Orwitz's emotions and continued

.

"Don't worry, it doesn't matter to look up. The key is to do things. You are the undisputed number two person at Disney and you will report directly to the board of directors." Eisner patted Orwitz on the shoulder.

"I feel very honored." Orwitz was satisfied and reported directly to the board of directors, which means he didn't have to carefully look at Eisner's face.

"Snap time to learn some new industry knowledge and wait until you officially take office next month. I hope that people will praise me for finding the most suitable CEO for them, hahaha."
Chapter completed!